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Crypto & Web3CoinDesk ·

Circle and Tether freeze $318K in stablecoins linked to Bitget hack

Circle and Tether have intervened following a major cryptocurrency theft on the Bitget exchange by blacklisting a hacker-linked wallet. The frozen wallet contained approximately $318,000 worth of USDT and USDC stablecoins. The two stablecoin issuers acted by exercising their ability to block transactions from the flagged address. However, the majority of the stolen funds were held in Ether, a cryptocurrency that cannot be frozen by any central authority, limiting the effectiveness of the intervention.

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Crypto & Web3CoinDesk ·

Tokenization Outpaces Washington as Regulatory Clarity Becomes Economic Issue

Former New York Governor Andrew Cuomo has argued that regulatory clarity around tokenization is not merely a legal or political matter, but fundamentally an economic one. The digital asset sector is advancing at a pace that U.S. regulatory frameworks have struggled to match. Cuomo's remarks highlight growing concern that Washington's slow response to tokenization could have broader economic consequences. The gap between technological progress and policy development is increasingly seen as a competitive risk for the United States.

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Crypto & Web3CoinDesk ·

Tether Reports Limited EQIBank Exposure After $89M US Asset Seizure

Stablecoin issuer Tether has confirmed it has minimal financial exposure to EQIBank following a significant US government seizure of $89 million in assets linked to the bank. Tether's maximum exposure to EQIBank is capped at under $64 million, according to the company's own disclosures. The seizure has drawn attention to the counterparty risks that remain present within the fiat banking networks that stablecoin issuers rely on. The incident highlights ongoing regulatory and financial vulnerabilities in the gateways connecting crypto firms to traditional banking systems.

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Crypto & Web3CoinDesk ·

Strategy proposes daily dividends to push STRC shares back above $100

Strategy has put forward a proposal to introduce daily dividend payments for its STRC preferred shares. The stock has been trading below $100 since May, struggling to recover despite an existing 12% dividend rate. The company has also spent approximately $1 billion on preferred share buybacks, yet the price has remained depressed. The daily dividend proposal is aimed at making the shares more attractive to investors and restoring their value to the $100 mark.

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Crypto & Web3CoinDesk ·

Bond Volatility Hits March High as Bitcoin and Stock Markets Stay Calm

Bond market volatility has surged to its highest level since March, signaling growing unease among fixed-income investors. In contrast, Bitcoin's volatility index (BVIV) and Wall Street's VIX are both hovering near their lowest points of the year. This divergence highlights an unusual decoupling between bond markets and equity and crypto markets. While bonds are experiencing heightened turbulence, both traditional stocks and digital assets appear relatively stable and composed.

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Crypto & Web3CoinDesk ·

Altcoins surge broadly as Bitcoin holds steady around $84,000

Altcoins posted widespread gains as Bitcoin consolidated near the $84,000 level. Quant was the standout performer, surging 39% within a 24-hour period. A total of 93 out of 100 assets tracked in the CoinDesk 100 index recorded positive movement. The altcoin season index climbed to its highest reading in over three months, signaling a broad shift in market momentum away from Bitcoin dominance.

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Crypto & Web3CoinDesk ·

Bitcoin ETFs Swing from $5.8B Net Outflows to $800M Net Inflows in 2024

U.S. Bitcoin exchange-traded funds have staged a significant financial turnaround in 2024. Earlier in July, these ETFs were collectively sitting at $5.8 billion in net outflows for the year. Since then, investor sentiment has shifted considerably, pushing the funds into positive territory. The cumulative net position has now reversed to $800 million in net inflows, representing a total swing of approximately $6.6 billion.

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Crypto & Web3CoinDesk ·

KelpDAO Sues LayerZero Over $292M Hack, Alleges Undisclosed Vulnerabilities

KelpDAO has filed a lawsuit against cross-chain messaging protocol LayerZero and its co-founder Brian Pellegrino. The lending protocol alleges that LayerZero knowingly failed to disclose critical security weaknesses in its system. These undisclosed vulnerabilities are said to have enabled what has become the largest crypto exploit of 2026 so far. The breach resulted in losses of approximately $292 million for KelpDAO. The lawsuit marks a significant legal escalation in the aftermath of the attack.

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Crypto & Web3CoinDesk ·

Bitcoin Holds Near $84,000 as Bond Selloff Eases and Options Expiry Looms

Bitcoin stabilized around $84,000 as pressure in the bond market temporarily subsided. U.S. Treasury yields pulled back from multi-decade highs, offering some relief to risk assets. Oil prices also declined following reports of a potential phased deal between the United States and Iran. Adding to market attention, approximately $14 billion worth of bitcoin options were scheduled to expire on derivatives platform Deribit on Friday.

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Crypto & Web3CoinDesk ·

Bitget Lost $352M in Hack via Spoofed Transactions, Not Key Breach

Cryptocurrency exchange Bitget suffered a major security breach resulting in losses of approximately $351.6 million. CEO Gray Chen revealed the details of the attack in a post on X. According to Chen, hackers exploited the wallet backend by spoofing transaction data rather than compromising private keys. The attack vector was therefore an internal infrastructure vulnerability, not a traditional credential theft.

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Crypto & Web3CoinDesk ·

New York Sues Polymarket Over Alleged Illegal Gambling Operations

The state of New York has filed a lawsuit against prediction market platform Polymarket, accusing it of running an illegal gambling operation. Authorities allege that Polymarket has been operating without the required gambling license. The state is seeking a court order to block Polymarket from continuing its operations in New York. Additionally, officials are looking to recover financial gains that they claim were illegally obtained by the platform.

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Crypto & Web3CoinDesk ·

Federal Reserve Proposes Rules to Implement GENIUS Act Stablecoin Regulations

The U.S. Federal Reserve has put forward proposed regulations aimed at implementing the GENIUS Act, a stablecoin legislation passed last year. The proposals outline a regulatory framework governing how stablecoins would operate under federal oversight. Among the key areas addressed are rules around stablecoin yield programs. The move marks a significant step toward establishing formal federal guidelines for the stablecoin industry.

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Crypto & Web3CoinDesk ·

Bitget Reports $352M Hack, Assures Users Their Funds Remain Safe

Cryptocurrency exchange Bitget has disclosed a hack involving approximately $352 million in affected funds. CEO Gracy Chen made the announcement shortly after independent researchers identified suspicious wallet activity. Despite the scale of the breach, Bitget has assured its users that their funds are secure. The incident highlights ongoing security vulnerabilities facing major crypto trading platforms.

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Crypto & Web3CoinDesk ·

Ondo Finance Denies Being Put Up for Sale After Founder's Death

Reports emerged suggesting that Ondo Finance was being shopped to potential buyers following the death of its founder, Nathan Allman. The company has strongly denied that it was seeking or entertaining any acquisition discussions. The circumstances surrounding Allman's death have not been detailed in available reports. His estate declined to offer any comment on the sale rumors. Ondo Finance's denial signals the firm intends to continue operating independently despite the leadership loss.

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Crypto & Web3CoinDesk ·

Bullish, Alpaca and Apex Fintech unite to advance issuer-backed tokenized stocks

Crypto exchange Bullish, brokerage infrastructure firm Alpaca, and fintech clearing firm Apex Fintech have formed a coalition to promote issuer-backed tokenized stocks. The alliance seeks to connect blockchain-based shares directly to official shareholder records, ensuring regulatory legitimacy. The move follows a recent U.S. Securities and Exchange Commission innovation exemption that opened the door for tokenized stock trading. By anchoring onchain shares to verified issuer records, the group aims to bring greater transparency and accountability to the emerging tokenized securities market.

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Crypto & Web3CoinDesk ·

CFTC Greenlights Tokenized Assets and Blockchain Records for U.S. Commodities Firms

The U.S. Commodity Futures Trading Commission (CFTC) has issued guidance permitting commodities firms to invest in tokenized assets and use blockchain-based recordkeeping. The move signals the regulator's growing acceptance of digital asset infrastructure within traditional financial markets. Tokenization and blockchain recordkeeping are being recognized as standard operational tools for the industry. The CFTC indicated it is continuing to develop further guidance in this area, suggesting more regulatory clarity is on the way.

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Crypto & Web3CoinDesk ·

Robinhood AMC Token Dispute Exposes Rift Over Legitimate Tokenization Models

A debate has emerged over Robinhood's AMC token, centering on which model of asset tokenization should be considered legitimate. The U.S. Securities and Exchange Commission has stepped in to draw a regulatory boundary on the matter. Bullish executive Tram Doman argues that the more fundamental question is what conditions must be met for tokenized assets to constitute a functioning market. The controversy highlights a broader gap in the industry that no single actor can bridge on their own.

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Crypto & Web3CoinDesk ·

Bitcoin Reclaims One-Year Average, But 200-Day Level Remains Key Test

Bitcoin has climbed back above its one-year moving average, drawing attention from technical analysts. However, research firm AltcoinPro Research cautions that this alone may not be the most significant signal. According to the firm, the more critical benchmark to watch is whether Bitcoin can sustain a position above its 200-day moving average. Holding above that level is widely considered a stronger indicator of long-term bullish momentum in the cryptocurrency market.

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Crypto & Web3CoinDesk ·

Crypto Casino Duelbits Taken Offline After $7M Hot Wallet Breach

Crypto gambling platform Duelbits has gone offline following a cyberattack that drained its hot wallets of approximately $7 million. The attackers targeted wallets across four separate blockchain networks in the breach. Around $6 million of the stolen funds have since been consolidated into a single Ethereum address. The incident highlights ongoing security vulnerabilities facing crypto-based gaming platforms.

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